Bipartite networks are of great importance in many realworld applications. In bipartite networks, butterfly (ie, a complete 2× 2 biclique) is the smallest non-trivial cohesive structure and plays a key role. In this paper, we study the problem of efficient counting the number of butterflies in bipartite networks. The most advanced techniques are based on enumerating wedges which is the dominant cost of counting butterflies. Nevertheless, the existing algorithms cannot efficiently handle large-scale bipartite networks. This becomes a bottleneck in large-scale applications. In this paper, instead of the existing layer-priority-based techniques, we propose a vertex-priority-based paradigm BFC-VP to enumerate much fewer wedges; this leads to a significant improvement of the time complexity of the state-of-the-art algorithms. In addition, we present cache-aware strategies to further improve the time efficiency while theoretically retaining the time complexity of BFC-VP. Moreover, we also show that our proposed techniques can work efficiently in external and parallel contexts. Our extensive empirical studies demonstrate that the proposed techniques can speed up the state-of-the-art techniques by up to two orders of magnitude for the real datasets.